The outlook revision is based on the fact that it has taken BHSF longer to restore operating profitability than management expected.
Moody’s also assigned an “Aa3” rating to BHSF’s proposed $250 million of series 2017 bonds. In addition, Moody’s affirmed the “Aa3” and “P-1” ratings assigned to BHSF’s outstanding bonds and Taxable Commercial Paper Program.
The rating assignment and affirmation are based on several factors, including BHSF’s leading market share and strong liquidity.
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